Business – Page 864 – Rise Africa

Replace obsolete meters for free, NERC orders Discos

19.11.2024

The Nigerian Electricity Regulatory Commission has warned electricity distribution companies not to forcefully migrate customers with faulty meters into the estimated billing regime. It also ordered the Discos to replace obsolete prepaid meters for their customers free of charge. This mandate was outlined in a statement released by the regulatory body’s management and posted on...

FG plans fresh N31tn borrowing, total debt may hit N170tn

19.11.2024

The Federal Government plans to allocate a significant portion of its budget to debt servicing over the next three years, surpassing allocations for capital expenditures. This is according to the recently approved 2025-2027 Medium-Term Expenditure Framework and Fiscal Strategy Paper. To fund its expenditure plans, the government also intends to borrow an additional N31.24tn over...

NNPCL admits challenges delaying P’Harcourt refinery take-off

19.11.2024

Barely two months after the September completion deadline flop, the Nigerian National Petroleum Commission has explained why it could not deliver the much-awaited Port Harcourt Refinery Company. In an interview with our correspondent on Monday, the NNPC Chief Corporate Communications Officer, Olufemi Soneye, said the company encountered risks and challenges while carrying out the rehabilitation,...

Senate to probe infractions by agencies

19.11.2024

The Senate on Monday vowed to invoke parliamentary sanctions against any head of a Federal Government agency indicted for financial infractions in the report submitted to the National Assembly by the Auditor-General for the Federation. The Chairman of the Senate Committee on Legislative Compliance, Senator Garba Madoki, gave the warning at a one-day roundtable workshop...

Andela partners CNCF to train 20,000 Africans in cloud-native skills

19.11.2024

Andela, the global talent marketplace for technology professionals, has announced a partnership with the Cloud Native Computing Foundation to train 20,000 African technologists in cloud-native basics. In a statement issued on Monday, Andela disclosed that the initiative, launched in collaboration with Linux Foundation Education, is aimed at equipping participants with the skills required to excel...

Guinness Nigeria, FRSC begin ‘ember’ months campaign

19.11.2024

Guinness Nigeria has partnered with the Federal Road Safety Corps Lagos State Sector Command to launch the 2024‘Ember’ Months Campaign to promote road safety during the festive season. Themed, ‘Speak Up Against Dangerous Driving: Crashes Kill More Passengers than Drivers,’ this year’s campaign calls on passengers and the public to actively participate in promoting safe...

Business

MTN plans satellite-internet rollout for remote communities

19.11.2024

Africa’s biggest mobile operator, MTN, is exploring partnerships with low-Earth-orbit satellite providers to bring internet connection to rural and remote customers in particular. The Group CEO, Ralph Mupita, said in a media call, Reuters reported on Monday. LEO satellites provide high-speed internet even in areas where terrestrial telecommunications infrastructure such as fibre and mobile broadband...

Effective strategies to boost auto sales

19.11.2024

DAMILOLA AINA examines how the expansive and dynamic landscape of social media is driving sales within the automotive sector, exploring the various strategies and trends that contribute to this growth In an era where digital transformation is reforming industries worldwide, business owners in Nigeria are embracing online marketplaces for growth. This is because the ability...

Equity market sustains bullish trend with N15bn gain

19.11.2024

The Nigerian Stock Exchange sustained its bullish trend with a N15bn gain at the close of the first weekday of trading, as equities recorded positive growth. The All-Share Index rose by 0.03 per cent, adding 24.99 points to close at 97,747.27. The market capitalisation rose by 0.03 per cent to close at N59.23tn. An aggregate...

Onafowokan gets NSE honorary fellowship award

19.11.2024

The Managing Director of Coleman Wires and Cables Industries Limited, George Onafowokan, has been honoured with the Honorary Fellowship Award by the Nigerian Society of Engineers. In a statement made available to our correspondent on Monday, Onafowokan expressed his pride in receiving the honour, emphasizing his dedication to the electrical and mechanical engineering fields. “This...